Parking Cash-Out Benefits

• Calvert Group
• CH2M Hill

Calvert Group—Bethesda, Maryland

The Calvert Group, a socially responsible investment fund located in the Washington, DC, area, offers a commuter benefits program to cover every potential mode of transport, including walking and bicycling. Calvert subsidizes employees who drive at a flat rate of $75 per month, but persons who ride transit are reimbursed the full value of the transit costs. Bicyclists can receive a one-time bicycle reimbursement of $350, while walkers can apply for a $120 subsidy to cover the cost of shoes.

Although not a true parking cash-out program, Calvert has successfully spread commuting benefits through a wide range of choices, and found ways to discourage solo driving. Employee turnover dropped from 25 percent to 12 percent after implementation of the program, and Calvert management sees the plan as integral to its recruitment and morale. The company has gained national attention for the quality of its employee programs in national publications such as Business Week and Working Mothers magazine.

CH2M Hill—Bellevue, Washington

Upon moving into new offices in the Seattle suburb of Bellevue, Washington, the 430 employees of the engineering firm CH2M Hill were offered a new deal: $40 per month if they walked, bicycled, carpooled or took transit to work, or free parking if they drove alone. The percentage of employees who drove alone promptly fell from 89 percent to 54 percent, while the percent carpooling increased from 9 percent to 12 percent. The percent taking transit soared from 1 percent to 17 percent, and the percentage biking or walking rose an equal amount from 1 percent to 17 percent. With single-occupant driving down by 39 percent, the firm's parking scarcity evaporated.